Chesapeake Energy 2013 Annual Report Download - page 43

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ITEM 6. Selected Financial Data
The following table sets forth selected consolidated financial data of Chesapeake for the years ended December
31, 2013, 2012, 2011, 2010 and 2009. The data are derived from our audited consolidated financial statements, revised
to reflect the reclassification of certain items to conform to current period presentation. The table should be read in
conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and our
consolidated financial statements, including the notes thereto, appearing in Items 7 and 8, respectively, of this report.
Years Ended December 31,
2013 2012 2011 2010 2009
($ in millions, except per share data)
REVENUES:
Natural gas, oil and NGL ...................................................... $ 7,052 $ 6,278 $ 6,024 $ 5,647 $ 5,049
Marketing, gathering and compression ................................. 9,559 5,431 5,090 3,479 2,463
Oilfield services .................................................................... 895 607 521 240 190
Total Revenues ................................................................ 17,506 12,316 11,635 9,366 7,702
OPERATING EXPENSES:
Natural gas, oil and NGL production ..................................... 1,159 1,304 1,073 893 876
Production taxes ................................................................... 229 188 192 157 107
Marketing, gathering and compression ................................. 9,461 5,312 4,967 3,352 2,316
Oilfield services .................................................................... 736 465 402 208 182
General and administrative ................................................... 457 535 548 453 349
Restructuring and other termination costs ............................ 248 7 — — 34
Natural gas, oil and NGL depreciation, depletion and
amortization ...................................................................... 2,589 2,507 1,632 1,394 1,371
Depreciation and amortization of other assets ...................... 314 304 291 220 244
Impairment of natural gas and oil properties ......................... — 3,315 — — 11,000
Impairments of fixed assets and other .................................. 546 340 46 21 130
Net (gains) losses on sales of fixed assets ........................... (302) (267) (437) (137) 38
Total Operating Expenses ................................................ 15,437 14,010 8,714 6,561 16,647
INCOME (LOSS) FROM OPERATIONS 2,069 (1,694) 2,921 2,805 (8,945)
OTHER INCOME (EXPENSE):
Interest expense ................................................................... (227) (77) (44) (19) (113)
Earnings (losses) on investments ......................................... (226) (103) 156 227 (39)
Gains (losses) on sales of investments ................................ (7) 1,092 — (129) (40)
Losses on purchases of debt and extinguishment of other
financing ........................................................................... (193) (200) (176) (16) (162)
Other income ........................................................................ 26 8 23 16 11
Total Other Income (Expense) ......................................... (627) 720 (41) 79 (343)
INCOME (LOSS) BEFORE INCOME TAXES 1,442 (974) 2,880 2,884 (9,288)
INCOME TAX EXPENSE (BENEFIT):
Current income taxes ........................................................... 22 47 13 — 4
Deferred income taxes ......................................................... 526 (427) 1,110 1,110 (3,487)
Total Income Tax Expense (Benefit)................................. 548 (380) 1,123 1,110 (3,483)
NET INCOME (LOSS) .............................................................. 894 (594) 1,757 1,774 (5,805)
Net income attributable to noncontrolling interests ............... (170) (175) (15) — (25)
NET INCOME (LOSS) ATTRIBUTABLE TO CHESAPEAKE.... 724 (769) 1,742 1,774 (5,830)
Preferred stock dividends ..................................................... (171) (171) (172) (111) (23)
Premium on purchase of preferred shares of a subsidiary.... (69) — — — —
Earnings allocated to participating securities ........................ (10) — — — —
NET INCOME (LOSS) AVAILABLE TO
COMMON STOCKHOLDERS ............................................... $ 474 $ (940) $ 1,570 $ 1,663 $ (5,853)